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I view derivatives as time bombs, both for the parties that deal in them and the economic system.

Warren Buffett

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Warren Buffett
Age: 94
Born: 1930
Born: August 30
Entrepreneur
Financier
Investor
Shareholder
Omaha
Nebraska
Warren Edward Buffett
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Derivatives
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Bombs
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By periodically investing in an index fund, the know-nothing investors can actually outperform most investment professionals.
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The rich are always going to say that, you know, just give us more money and we'll go out and spend more and then it will all trickle down to the rest of you. But that has not worked the last 10 years, and I hope the American public is catching on.
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Nevertheless, as circumstances presently appear, I feel substantially greater size is more likely to harm future results than to help them. This might not be true for my own personal results, but it is likely to be true for your results.
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I'll tell you why I like the cigarette business. It cost a penny to make. Sell it for a dollar. It's addictive. And there's a fantastic brand loyalty.
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I have this complicated procedure I go through every morning, which is to look in the mirror and decide what I'm going to do. And I feel at that point, everybody's had their say.
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I don't think it would be crazy to have a model or an entity model on the Reconstruction Finance Corp.
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Investors have to remember: corporate profits are going up, but stocks are going up faster. How can that continue indefinitely? Investors can only earn what companies themselves can earn the government or the markets themselves don't kick anything in. How can you get anything more out of a farm than what it grows?
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If you're extremely rich, and you have got children, my theory was, you give them enough so they can do anything, but not enough so they can do nothing.
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I don't need 15 houses. Owning real estate doesn't mean much to me. I don't like to think about things like that. I don't need 12 boats, or even the world's largest boat with a crew of 80. I'd have to take care of them, to worry about them. I get a lot more fun out of life without all the bells and whistles.
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What's nice about investing is you don't have to swing at every pitch.
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If you're in a card game and you can't figure out who the patsy is, you're it.
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I checked the actuarial tables, and the lowest death rate is among six-year-olds. So I decided to eat like a six-year-old.
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I'll take the deal, whatever you want to do.
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If you have a harem of 40 women, you never get to know any of them very well.
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It's us fun being a horse when the tractor comes along, or the blacksmith when the car comes along.
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It's the deleveraging that's going on right now that has caused the credit crisis.
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We continue to make more money when snoring than when active.
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Long ago, Ben Graham taught me that Price is what you pay value is what you get. Whether we're talking about socks or stocks, I like buying quality merchandise when it is marked down.
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I think people - what people want to do is make [economy] get worse.
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The extraordinary business does not require good management.
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